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430 Calle Verde Morgan Hill, CA 95037

3 Beds 3 Baths 1,623 sqft Built 1998

INVESTimate

$869,000

List Price

$3,300

$3,050 - $3,550

Rent Est.

$943,647  ( +8.59%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $535.43
  • 8 Days on Market
  • MLS # : ML81804527
  • Updated Date : 08/20/2020 at 11:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,623 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Beautiful Cerro Verde home 3 bed, loft, 2.5 bath. Plantation shutters, polished concrete floors, new interior paint, custom built-in shelving. Gorgeous Kitchen SS appliances, garden window, adjacent to Family room w/ the ambiance of a cozy, see-through fireplace designed w/ custom tile inlay & paint. Baths newly updated laminate floors, refinished cabinets, efficient sensored fans. Large master bed/bath suite new faucets, double sinks, light fixture, large walk in closet. NEST Thermostat, Security system,Smoke/CM detectors. New Milgard, Low-E windows/sliding door w/ soundproof element. High vaulted ceilings abundance of natural light. Downstairs indoor laundry room, AC, spacious 2 car garage. Backyard perfect for family & friends or relaxing by yourself plush landscape giving you privacy, w/ redwood & fruit trees, green lawn, flowers, pavers & tranquil water fountain. Less than a block from in-ground community, El Torro Elementary, short walk to downtown MHill shopping /restaurants.

SEE MORE

MARKET HIGHLIGHTS

  • San Jose metro's economy has been worth $282.2 billion in Gross Metro Product (GMP) in 2018 and is projected to grow to $298.6 billion in 2019. GMP measures the productivity of the metro. (USMayors.org, 2018)
  • San Jose metro employment growth has been at 2.2% in 2018 and predicted to grow at 1.9% in 2019 (USMayors.org, 2018)
  • San Jose metro contributes to 9% of California state's economy i.e. Gross State Product (USMayors.org, 2018)
  • Palo Alto, Redwood City, Mountain View and San Mateo together attracted around $11 billion in venture capital funding in 2019 making Silicon Valley still attractive to technology investments (Crunchbase News, 2020)
  • San Jose metro has 67.6% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 95037

ZipNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 95037

ZipNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17853804

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
El Toro Elementary School Primary Regular 475 18 3
Martin Murphy Middle School Middle Regular 479 20 6
Ann Sobrato High School High Regular 1,451 62 8

El Toro Elementary School

  • Education Level: Primary
  • # of students: 475
  • # of teachers: 18
3
GreatSchools Rating

Martin Murphy Middle School

  • Education Level: Middle
  • # of students: 479
  • # of teachers: 20
6
GreatSchools Rating

Ann Sobrato High School

  • Education Level: High
  • # of students: 1,451
  • # of teachers: 62
8
GreatSchools Rating
 

$782,100$955,900$869,000

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$3,206
Property Tax -$878
Property Insurance -$66
HOA -$147
Property Management Fees -$129
CASH FLOW
-$1,126

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$869,000

PROJECTED PRICE

$3,300

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 8.59%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$236,035

INVESTMENT

$236,035

Down Payment
$217,250
Rehab Estimate
$5,750
Closing Costs
$13,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,206

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $217,250
Loan Amount $651,750
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$2,179

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $3,360

    COMP ESTIMATED VALUE
  • $2.07

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,3004$3,400
$3,400
RENT COMPS ANALYSIS
  • 430 Calle Verde Morgan Hill, 1
    • 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 580 San Pablo Ct Morgan Hill, 2
    • 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 1997
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.21
    •  
  • 17075 Saint Cecilia Lane Morgan Hill, 3
    • 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2013
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.83
    •  
  • 18282 Solano Pl Morgan Hill, 4
    • 3 beds 3 baths ∙ 1,567 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,567 Sqft ∙ Built 2014
    property image
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.17
    •  
PROPERTY LISTING DETAILS
Shante Pappas
Compass
BESbswy